Reported 3 months ago
Investors are closely monitoring Meta Platforms Inc. as it aims to assure Wall Street of the value of its heavy spending on artificial intelligence, following recent letdowns from Microsoft and Alphabet. Analysts expect Meta's capital expenditures to reach $9.5 billion for this quarter, a significant increase from last year. With mixed sentiments surrounding the efficacy of their spending strategy, the company’s upcoming report may lead to notable market movements.
Source: YAHOO
Reported 3 months ago
Uber has formed a multi-year partnership with Chinese automaker BYD to introduce 100,000 electric vehicles (EVs) to its global ride-hailing platform. The initiative begins in Europe and Latin America, offering drivers affordable pricing and financing options for BYD's EV models, with plans to extend to additional regions. This collaboration aims to boost EV adoption amidst rising environmental concerns while providing discounts on vehicle maintenance and charging for drivers transitioning to electric vehicles.
Source: YAHOO
Reported 3 months ago
The Federal Reserve is expected to maintain current interest rates in its upcoming policy meeting while hinting at a potential rate cut in September, depending on inflation trends. Investors are eager for insights from Fed Chair Jerome Powell during the post-meeting press conference, especially regarding inflation's movement towards the 2% target and recent changes in the job market. Although some experts see grounds for a rate cut now, prevailing caution suggests that the Fed might wait, with at least one cut anticipated later this year.
Source: YAHOO
Reported 3 months ago
In light of the recent pullback in mega-cap growth stocks like Nvidia and Tesla, three investment opportunities are highlighted: Rocket Lab, known for its promising growth in the space sector; Hexcel, a leader in advanced composites despite short-term challenges; and Enphase Energy, showing signs of recovery in the solar industry. These stocks may offer better long-term potential compared to currently trending stocks.
Source: YAHOO
Reported 3 months ago
In a surprising turn of events, small-cap stocks have rapidly approached the performance of the S&P 500, following a notable shift in investor sentiment as tech stocks falter. The Russell 2000 index is outperforming the tech-centric Nasdaq 100 for the first time in years, indicating a significant rotation in market leadership and highlighting concerns over concentration in major stocks. Analysts view this shift as part of a healthy market cycle, although the rapid changes have prompted institutions to adjust their investment strategies.
Source: YAHOO
Reported 3 months ago
CD rates are currently competitive, with some offering up to 5.40% APY, especially for shorter terms of around one year. The Federal Reserve has been raising rates since March 2022, contributing to the rise in CD rates. However, with projections of potential rate cuts later this year, now may be an optimal time to invest in CDs to lock in these favorable rates.
Source: YAHOO
Reported 3 months ago
Intel Corp. is planning significant job cuts to reduce expenses and support a recovery effort amidst declining earnings and lost market share. The workforce reduction is expected to be announced soon, with the company aiming to innovate its technology under CEO Pat Gelsinger. Despite previous cuts, Intel anticipates modest revenue growth in the latter half of 2024 after flat second-quarter results.
Source: YAHOO
Reported 3 months ago
AMD's stock rose over 9% following the company's strong second-quarter earnings, which beat analyst expectations with adjusted earnings per share of $0.69 and revenue of $5.8 billion. CEO Lisa Su highlighted the significant growth opportunities driven by AI, particularly for their data center GPUs and CPUs. AMD's data center revenue surged 115% year-over-year, while the client segment also showed growth amidst a recovering PC market.
Source: YAHOO
Reported 3 months ago
The Biden administration plans to implement a new rule that will restrict exports of semiconductor manufacturing equipment from certain foreign countries to China, but will exempt allies such as Japan, the Netherlands, and South Korea. This decision is intended to limit the impact on key suppliers like ASML and Tokyo Electron, whose stocks rose following the announcement. The rule aims to curb China's advancements in semiconductor technology without alienating allied nations.
Source: YAHOO
Reported 3 months ago
In a significant move to normalize monetary policy, the Bank of Japan increased its benchmark interest rate from a range of 0 to 0.1% to approximately 0.25% and announced plans to reduce bond purchases. This decision comes just hours before the Federal Reserve's announcement, highlighting Japan's shift towards tackling rising inflation as it aims to curtail ultra-easy policies established in previous years. The yen and stock markets reacted positively, with further speculation on potential future rate hikes as economic conditions evolve.
Source: YAHOO
Reported 3 months ago
HSBC Holdings announced a $3 billion share buyback and revised its income expectations upwards, leading to a 3% rise in its stock price. The bank reported stable profit growth and improvements in wealth management, alongside reduced sensitivity to global interest rate cuts. Its return on average tangible equity target aims for the mid-teens by 2025. Despite a slight decrease in first-half profit, HSBC's performance surpassed market expectations, notably boosted by new customer acquisitions and improved revenue from its investment banking sector.
Source: YAHOO
Reported 3 months ago
The US plans to exempt semiconductor equipment manufacturers in the Netherlands and Japan from new semiconductor export restrictions aimed at China, according to sources. While the Biden administration is implementing a broader trade policy to limit China's access to advanced semiconductor technology, companies like ASML and Tokyo Electron are seen as likely to benefit from this exemption, leading to significant stock gains. Despite this temporary relief, the U.S. retains potential regulatory power that could impact these companies in the future.
Source: YAHOO
Reported 3 months ago
Denso, Japan's prominent automotive supplier, has cut its full-year operating profit forecast by 3.1% to 692 billion yen, slightly below analyst expectations, following a first-quarter profit that matched predictions. Despite a 28% increase in quarterly profit to 120.6 billion yen, driven by foreign exchange gains, the company's overall outlook reflects a decrease in production due to weak vehicle sales in Asia. The adjustment comes after Denso's recent decision to sell its cross-shareholdings in Toyota-affiliated companies to finance future investments.
Source: YAHOO
Reported 3 months ago
Hamas announced that Israeli airstrikes killed its political leader, Ismail Haniyeh, in Tehran during a visit for Iran's presidential inauguration. This event was labeled as a significant blow to Hamas, particularly amid ongoing ceasefire negotiations between the group and Israel. Israeli military officials have refrained from commenting on the incident.
Source: YAHOO
Reported 3 months ago
India's Securities and Exchange Board is set to introduce stricter regulations on equity derivatives, significantly impacting brokers, especially Angel One, which relies heavily on derivatives trading. The new rules aim to curb trading volumes and come amid increasing investor interest in index funds and pressure from higher capital gains taxes. This evolving landscape is making it crucial for brokers to adapt to the tougher regulatory environment.
Source: YAHOO
Reported 3 months ago
Samsung Electronics plans to begin mass production of its fifth-generation high-bandwidth memory (HBM) chips and expects a significant jump in sales contribution, projecting that its top-tier HBM3e chips will increase their share from just over 10% this quarter to 60% by the end of the year. The surge is bolstered by strong demand from major clients like Nvidia, as Samsung anticipates a 3.5-fold increase in HBM sales in the latter half of the year.
Source: YAHOO
Reported 3 months ago
China's manufacturing activity continued to decline in July, as reflected in the Purchasing Managers' Index which dropped to 49.4, marking three consecutive months of contraction. Concerns over the economy persist, prompting the Politburo to acknowledge upcoming challenges while vowing to implement measures aimed at restoring market confidence and boosting government spending.
Source: YAHOO
Reported 3 months ago
China's factory activity fell for the third consecutive month in July, registering a purchasing managers' index of 49.4, indicating persistent economic weakness. This decline, occurring as consumer spending turns sluggish and external demand falters, puts Beijing's growth efforts under strain. While the non-manufacturing index remained marginally above contraction at 50.2, the underlying signs point to continued economic challenges ahead, prompting skepticism over the effectiveness of recent policy commitments to boost domestic consumption.
Source: YAHOO
Reported 3 months ago
Australia's core inflation has unexpectedly slowed, raising expectations for a potential interest rate cut by the Reserve Bank. The trimmed mean inflation rate fell from 4% to 3.9%, and the consumer price index increased by 3.8%. This easing trend suggests that the bank may be on track to reach its inflation target by late next year without further action. As a result, market participants are adjusting their strategies, with a notable decrease in bond yields and a shift towards anticipating a rate cut in December.
Source: YAHOO
Reported 3 months ago
Japanese bank stocks experienced their largest surge since December 2022 following reports that the Bank of Japan (BOJ) is considering increasing interest rates. The Topix Banks Index rose by 4.7%, driven by expectations that higher rates will enhance lenders' interest income. The BOJ raised its policy rate to approximately 0.25% and plans to reduce bond purchases, further fueling the market's optimistic outlook for bank shares.
Source: YAHOO
Reported 3 months ago
In July, China's manufacturing sector experienced a decline for the third consecutive month, according to an official survey. The purchasing managers' index (PMI) fell to 49.4, indicating contraction as the country grapples with a protracted property crisis and mounting economic insecurity. While some support has come from solid exports, domestic demand remains weak, prompting expectations of further stimulus measures from the government to invigorate the economy.
Source: YAHOO
Reported 3 months ago
China's non-manufacturing activity growth has slowed in July, driven by a decrease in domestic demand for services, as highlighted by the latest purchasing managers' index (PMI) from the National Bureau of Statistics (NBS), which fell to 50.2 from 50.5 in June. This trend underscores the ongoing challenges faced by the domestic economy, particularly linked to a prolonged crisis in the property sector.
Source: YAHOO
Reported 3 months ago
Asian stocks remained stable with mixed performances from major tech companies, creating a divide in the AI sector. The yen strengthened ahead of the Bank of Japan's anticipated policy decision, which may include plans for tapering bond purchases and a potential interest rate rise. Geopolitical tensions and disappointing earnings from Microsoft contrasted with strong results from AMD, leading to cautious market sentiment.
Source: YAHOO
Reported 3 months ago
Sarawak, Malaysia's largest state, is reclaiming its natural gas assets from state-run enterprises as part of its efforts for greater economic autonomy. Following recent gas sale agreements, the transition of control from Petronas, Malaysia's national oil company, is set to complicate negotiations over revenue sharing and operational oversight. This move comes in the wake of Sarawak's strengthened political position after the 2022 elections, with plans to further develop its energy sector and enhance its contributions to the national economy.
Source: YAHOO
Reported 3 months ago
Samsung Electronics has experienced a remarkable net income growth, reaching 9.64 trillion won ($6.96 billion) in the June quarter, a six-fold increase primarily driven by rising semiconductor prices and demand for high-bandwidth memory chips essential for AI technology. The company aims to double its output of these high-end chips next year, having made progress in securing approvals for its latest products from Nvidia. Despite its success, Samsung faces stiff competition from SK Hynix, which currently leads the high-capacity memory market.
Source: YAHOO